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20 Steps to SellingYour Own HomeThe real estate commissionearned by a real estateprofessional on the sale of yourproperty can be a considerablesum of money. And we knowthat you'll agree it's tempting totry to save that commission byselling your property yourself.
So, if you decide to market yourown property, we invite you toconsider the following steps thatyou must take in order to savethe real estate commission.
1 Conduct your own Mini-WalkthroughMake notes of all items that need repair or improvement.
Your checklist might include:• Fresh, clean paint throughout.• Clean windows and window coverings throughout.• Well-manicured lawn and yard.• Plumbing and all appliances in working order.• New or cleaned carpet.• All sealants (window, tub, shower, sink, etc.) in good condition.• Roof and gutters in good condition; no repair needed.
2 Make all necessary repairsMake all necessary repairs and improvements before you beginto advertise your property.
3 Do Your ResearchCarefully research information regarding the prices andterms of sales in today’s real estate market. Investigaterecent sale prices for property similar to yours in yourimmediate area. Then establish a realistic price for yourproperty based on that information.
4 Determine Your Financial AlternativesMeet with local lenders and determine financing alternatives foryour prospective buyers.
5 Investigate the InternetDetermine which Internet sites, newspapers and homemagazines, etc., will best advertise your property. Callthem for rates and deadlines.
6 Establish a BudgetEstablish an advertising budget. Prepare a contingencyadvertising budget in case your home does not sell asquickly as you anticipate.
7 Prepare a Professional AdPrepare a professional, attention-getting advertisement that willattract the right buyers to your property. Place your ad in thenewspaper(s). Upload your information and photos to the Internet.
8 Target Out-of-Town BuyersPrepare a plan to reach those out-of-town buyers who account fora major portion of today’s home purchasers.
9 Purchase an Outdoor Yard SignPurchase an eye-catching and weatherproof yard sign; install it inthe front of your property.
10 Advertise Your Open HousePurchase special “open house” signs and position them inpaths that lead from main roads or thoroughfares, through theneighborhoods and to the property. Put these signs out eachtime you hold an open house (and be sure to take them downafter each open house).
11 Prepare a Fact SheetPrepare a “feature/benefit” fact sheet outlining specificfeatures of your home and the corresponding benefits toprospective purchasers.
12 Schedule Open HousesSchedule and conduct open house weekdays as well as openhouse weekends. Make your property more inviting by placingfreshly cut flowers in several rooms. You might burn scentedcandles in the living room, kitchen and baths. The aroma offreshly baked bread or cookies also adds to the ambiance ofyour property.
13 Always Be AvailableBe available at all times so that you can walk through theproperty with prospective buyers to answer their questionsand offer information about local schools, parks,transportation, shopping, places of worship, etc.
14 Respond Promptly to InquiriesRespond to telephone and e-mail requests for information in atimely manner. Learn how to separate the “lookers” fromqualified buyers. Ask for names and phone numbers and besure to follow up with telephone calls.
15 Be Prepared to NegotiateBe prepared to negotiate with the buyer(s) as though you arean impartial third party. Remain calm and refrain from anyemotional outburst that might spoil a sale.
16 Gather All the Proper FormsObtain all forms necessary for the legal sale of real property suchas:
• Deposit Receipt and Offer To Purchase• Buyer’s Cost Sheet• Seller’s Disclosure Form In our increasingly litigious society, it
is imperative that all known defects be disclosed to the buyer(s).
17 Determine Your FinancingDetermine the type(s) of financing that you are willing toconsider, such as:
• FHA• VA• Seller Carryback First Loan• Conventional Loan with Seller• Carryback Second Loan• “Wrap Around” Loan
18 Negotiate the Final Terms of the SaleNegotiate with the buyer(s) all final terms of the sale includingprice, financing, inspections, date of closing, date ofpossession and other pertinent considerations.
19 Plan a Final WalkthroughPlan a final walk-through with the buyer(s) before thesettlement process is complete in order to resolve anydisputes. Have a witness present.
20 Locate and Negotiate Your New HomeWhile you are marketing your current property, locate andnegotiate to purchase your next home. Attempt to scheduleboth transactions so that they close simultaneously. In thisway, you and the buyer are able to move at the same time.
Prudential Real Estate is here for you!Many people are very comfortable in the role of “For Sale By Owner.” You may find that you areone of those people. Whether you choose to take on the task of selling your property alone orprefer to work with a real estate sales professional, I will be happy to help you get started byproviding you with a complimentary HOME MARKET EVALUATION.
Feel free to contact me today to put the power ofPrudential Real Estate to work for you.
Kenny Williamskenny@panamacityrealestate.com(850)630-1531http://www.prudential.com
7923 Panama City Beach Pkwy. Panama City Beach, FL 32407© 2013 BRER Affiliates LLC. An independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registeredservice marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. EqualHousing Opportunity.
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